Posts by Jacob Ayers

210: Multiple Streams of Passive Income with Jens Nielsen

Jens Nielsen is the principal Open Doors Capital. He has raised almost $1M for apartment deals and has invested in over 800 apartment units, 500 mobile park lots and over 4500 storage units plus mortgage note funds and private money lending. Jens has strong experience in evaluating deals and assembling a team to renovate and operate the properties. Jens has a long career in IT, giving him strong analytical skills and a great ability to assess risks in complex deals.

Key Points
Starting with small multi-family properties
Buying seller financed deals
The benefits of joining a mentoring program
Exploring multifamily and other asset classes
How to find deals out of state
Lightning Questions
What was your biggest hurdle getting started in real estate investing, and how did you overcome it?
Fear of the unknown. Jens took action and bought his first deal.
Do you have a personal habit that contributes to your success?
Jen has a morning routine where he starts his day with intention.
Do you have an online resource that you find valuable?
Streak – CRM for Gmail
What book would you recommend to the listeners and why?
The E-Myth Revisited by Michael Gerber
If you were to give advice to your 20-year-old self to get started in real estate investing, what would it be?
Take action. Try to find a balance with work and life.
Resources
Visit Audible for a free trial and free audiobook download!

Open Doors Capital

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209: 3 Steps to Your First Deal – Revisited – Friday Fundamentals

Imagine this scenario. You are going to climb Mt. Kilimanjaro, the highest mountain in Africa. Standing at the base looking up, you can’t see the summit above the clouds, although you know it’s up there somewhere. Suddenly you realize just how daunting this climb will be. Your mind is racing with thoughts about how you’ll accomplish this feat, what supplies you have, and what dangers lurk ahead.

Real estate investing is a lot like climbing Mt. Kilimanjaro. But before you ever take that first step, there are things you can and should to to prepare yourself. We’ll lay these three simple things out, and dive into each in detail.

Education
Network
Analyze deals & make offers

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208: Mobile Home Park Investing with Jefferson Lilly

Jefferson is a self-made millionaire, mobile home park investment (MHP) expert, educator, and industry consultant. Park Street Partners owns 17 MHPs coast-to-coast totaling over $32mm in value. Prior to co-founding Park Street Partners in 2013, Mr. Lilly spent seven years investing his own capital acquiring and operating mobile home parks. Before becoming an investor full-time, Jefferson spent nine years in sales leadership roles with several venture-backed startups in Silicon Valley. 

He holds a B.A. from the University of Pennsylvania and an MBA from the Wharton School of Business. Jefferson started and hosts the Mobile Home Park Investors Podcast. He also founded the Mobile Home Park Investors group on LinkedIn – the world’s largest professional networking group focussed on MHPs (3,500+ members).

Key Points
Why mobile home parks serve an important purpose in our country
How to manage properties nationwide using the latest technology
Supply and demand imbalances
The MHP business model
Value add opportunities in MHPs 
Fun Facts
Mobile homes have a VIN number, just as a boat, car, or trailer would
10% of the U.S. lives in mobile homes
Lightning Questions
What was your biggest hurdle getting started in real estate investing, and how did you overcome it?
Jefferson was distracted by his job, personal life, etc. He’s now completely focused and disciplined in his search for mobile home parks. 
Do you have a personal habit that contributes to your success?
Jefferson has mad an effort to hire people to help him out in his business. His goal is to make himself irrelevant to his business. 
Do you have an online resource that you find valuable?
Bestplaces.net
What book would you recommend to the listeners and why?
The Snowball: Warren Buffett and the Business of Life by Alice Schroeder
If you were to give advice to your 20-year-old self to get started in real estate investing, what would it be?
Do the same things, but sooner. 
Resources
Visit Audible for a free trial and free audiobook download!

Park Street Partners

Rent Manager – Property management software

Bestplaces.net

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207: Your Sphere of Influence – Friday Fundamentals

Your Sphere of Influence
“You are the average of the 5 people you spend the most time with” – Jim Rohn

You are the product of your environment. What you were taught in school, what values your parents instilled in you, what economic environment you grew up in, your place of upbringing and hundreds of other things have shaped you into the person you are today. Every event, accomplishment, failure, etc. have made you who you are. That’s what makes you unique.

One of the most important factors that influence you is who you surround yourself with. Their thoughts, actions, and mindset will rub off on you, and you’ll eventually become more and more like those other people, as Jim Rohn said. Knowing this, you can begin to look at your own life and see these truths.

I’m sure you have some qualities that closely resemble your mom, dad, brother, or sister. Maybe you become more and more like your significant other every day. Maybe that close coworker or business partner is rubbing off on you.

Ok, so this may seem obvious and you might be asking what’s my point. Well, if you want to become someone else than you currently are or grow in a certain area, then you have to look around you and see if your current environment and sphere of influence is promoting that growth or not. If you are surrounded by people with a scarcity mindset, you might never break free and live an abundant life, for example.

Grow Your Circle
It’s important to surround yourself with the right people. People who challenge you to grow, push you out of your comfort zone and make you think in ways you don’t usually. If you want to live a positive life, then seek out positive people. If you want to live an abundant life, then seek out people with an abundance mindset.

There are some great ways you can connect with like-minded people. Here are a few ways I’ve found helpful.

Meetup Groups – there are meetup groups for almost anything you can imagine. Book clubs with pogo sticks? Yep, probably so. Look up a meetup group in your local area and meet people there. From real estate investing groups to cycling, running, and outdoor activities, you can find people who are doing what you find interesting.
Conferences – conferences are a great way to meet and connect with people who share similar interests with you. Often conferences have a cost, so the people there are serious about the subject. I’ve met many great people at real estate conferences including many of the guests here on the podcast.
Mastermind with friends – this is an especially fun one for me. I like to seek out some friends who push me and make me grow and connect with them frequently. Getting a few friends together on a video chat and talking about ideas, goals, etc. is a great way to build your own mastermind community.
Here’s a little exercise you can do. Simply write down the 5 people you spend the most time with or talk to.  Then look at each person and see if they are a good and positive influence on you.

Guard Your Circle
Unfortunately, your friends or even family members might not be the best people to let in your sphere of influence. They might mean well, but might not be the best voices or influences for where you want to go. That’s perfectly ok. Think of your sphere of influence as a small group of people who are helping you grow. Not everyone can be in it.

It’s important to guard yourself against negativity and limiting beliefs. As harsh as it may sound, there just isn’t any room in your life for those things.

Surround yourself with people who push you, make you grow, and encourage you to succeed. In return, be that person for others too. Seek out positivity, growth, abundance mindsets, and challenges. You’ll be surprised how your sphere of influence positively affects your life.

Resources
Visit Audible for a free trial and free audiobook download!

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206: Turnkey Real Estate Investing with Jack Gibson

Jack Gibson began his entrepreneurial journey at age 19 and founded his first company at the ripe old age of 21. Operating a successful nutrition consulting and distribution company, he had built a multi-million dollar venture before he was old enough to rent a car.

Soon thereafter, he bought his first home as an investment. One quickly became five, and then the bug hit. He became obsessed with learning everything about Real Estate Investing and soon had over 50 investment properties generating passive income. Today, Jack spends his time mentoring other entrepreneurs, building his real estate investment portfolio, and helping other investors to build a brighter future through the power of turnkey real estate income.

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